The Italian antitrust authority has opened an in-depth investigation (Phase II) into Swisscom’s acquisition of Vodafone Italia, under Italian merger control rules. Swisscom said in a statement that such Phase II investigations are common in the telecommunications sector and assured that the transaction will not undermine the competitiveness of the market. The Swiss group said: “We will continue to work closely and constructively with the Italian antitrust authority to obtain a timely clearance. Swisscom will inform appropriately as soon as there are significant developments.”
Overall, the note continues, the acquisition of Vodafone Italia “is proceeding according to the pre-established timetable”: the group in fact secured the financing of the purchase price of 8 billion last May and obtained the unconditional green light from both the Presidency of the Italian Council of Ministers, regarding the legislation on golden power, and from the Swiss Competition Commission. “We expect the transaction to close in the first quarter of 2025,” concludes Swisscom.
